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Search Results 0 to 31 of about 32 (some duplicates have been removed)
FOX News
Dec 28, 2012 10:00am PST
the fiscal cliff will have on the economy and have on consumers and potentially lead us back into as you mentioned what a lot of economists believe, another recession. gregg: what happens when fourth quarter earnings come out? >> nobody is really talking about this. companies, fourth quarter ends in a few days from now. we haven't had many warnings come from companies but when you see consumer confidence falling, mastercard came out with their numbers on holiday sales only increasing .7%. well below estimates and historical averages and consumer is 70% of the economy we'll see a wave of corporations come out earnings in middle of january, end of january, come out much lower than expectations. as senator corker talked about today, the markets have held up very well throughout this, because a lot of people on wall street including myself believed a deal would get done before the end of the year. that is looking less and less likely. if nothing gets done you will see the market tank, less consumer spending. gregg: if consumer spending is 70% of the american economy, and it is clearly, this
FOX News
Dec 28, 2012 10:00pm PST
the u.s. economy from going off the fiscal cliff. after a late afternoon meeting with the top four congressional leaders at the white house, president obama offered this assessment. >>> i'm modestly optimistic -- nobody is going to get 100% of what they want. but let's make sure that middle class families and the american economy and in fact the world economy aren't adversely impacted because people can't do their jobs. >> sources say house speaker are john boehner deferred to senate colleagues and told them house leaders would consider, accept or amend their plan. what s not expected to be included in any deal is increasing the debt limit, something democrats have wanted and republicans have resisted. >> we he haded a long meeting in the white house and it was constructive. we hope that it will bear fruit. but that is what we hoped a lot. i think that the next 24 hours will be very instructive as to what we are able to accomplish. >> if it doesn't work president obama wants lawmakers to vote on what would essentially be plan c. here is what it would include. focusing on three key
FOX News
Dec 31, 2012 3:00pm PST
should have acted months ago to keep the u.s. economy going off the fiscal cliff. >> i find it really hard to sit and listen to people come up now and wring their hands and talk about gee whiz. i hope we can get something done on the last day. we put two people together basically to resolve this. >> the two people were senate republican lea leader mitch mcconnell and joe biden who worked the phones after talks between mcconnell and harry reid stalled. >> discussions continue today on plan to affect the middle class families from the tax increase tomorrow. there are a number of issues in which the two sides are still apart. negotiations are continuing as i speak. >> the agreement would set the threshold for extending the bush tax cuts at $400,000 for individuals and $450,000 for families. i would set the tax rate for upper income people at 39.6%. the rate under president clinton. the states would be taxed at 40% above $5 million for individuals and $10 million for a married couple. unemployment benefits would be extented a year, as with the medicare doc fix. it would permanently fix th
FOX
Dec 31, 2012 7:00am PST
the list. >>> and congress, running out of time to stop the u.s. economy from going over the fiscal cliff. jamie dupree is in washington, d.c. where new numbers are being tossed around this morning. [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through it. is she for real? your generation has it made. [ male announcer ] the wireless receiver only from at&t u-verse. get u-verse tv for $29 a month for six months. rethink possible. >>> stocks are mixed. they were found for a while. that would be down for the fifth day in a row. the five-day losing streak for the dow would be the longest since july. the dow you can see it's turned positive. it's up just slightly. the nasdaq is also up 22. s&p down 4. now, u.s. stocks are not the only indexes affected. the major european indexes are d
LINKTV
Dec 28, 2012 8:00am PST
in an economy that is based on guns. this budget in this fiscal cliff in no way gets into that debate. >> we want to ask about another bill, the fisa bill. we're going to go to break and come back to congress member dennis kucinich who served eight terms in congress. this is his last week as a member of congress. this is "democracy now!" back in a moment. ♪ [music break] >> she died wednesday at the age of 72 after complications from heart attack. this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman with juan gonzalez. >> while the so-called fiscal cliff has dominated the news headlines, the senate is preparing to vote today to continue a controversial domestic surveillance program. in a blow to civil liberties advocate, the senate rejected three attempts thursday to add oversight and privacy safeguards to the foreign intelligence surveillance act. >> dennis kucinich is still with us, outgoing democratic congress member. this will be his last week in congress -- at least for this term of his political life. congressmember kucinich, the issue of fisa. what i
CNN
Dec 31, 2012 1:00pm PST
, that if the u.s. were to really go over the u.s. fiscal cliff that the economy would go back into recession, unemployment would go from 7% to over 9%. that thousands of people would lose their jobs? >> no, wolf. i don't think there would be a permanent situation where we went over the fiscal cliff and nothing was done. my point is that if we went over the fiscal cliff and tax rates went up and spending cuts were substantial, that republicans would be under a huge pressure, even greater pressure than they are now to agree to a democratic initiative to cut middle class taxes and also restore the spending cuts that really do need to be restored. especially for the middle class and the poor. under the present circumstances, we to some extent have the worst of both worlds. the president loses the bargaining advantage of having that fiscal cliff and also having the public behind him. and has given in to republican demands of moving that threshold from $250,000 over $450,000. >> we've got to leave it there. grover norquist and robert reich, thanks to both of you. i know you'll be joining us later
FOX News
Dec 31, 2012 1:00pm PST
. we will get the next report next week for december and we hope the fiscal cliff does not thwart this but the underlying health of the economy is as good as its has been, do you agree, the laugh year or two? >>guest: well, it has been a bad one or two years, so, yes, if you look at it, i agree, it is half full. the glass needs to be a lot more full to keep stocks up at this level. >> we do not want to get ahead of ourselves and i was trying to be bullish on the economy because economists are looking for a downgrade next quarter at 2 percent growth but we have to go back to what happened after tarp, there was so much commotion and people were so concerned about that and the markets sold off and they sold off deeper but came back big. >>guest: over a series of years from 6,000 to 10,000 in the dow over a month and it took several years to get back. we have extended unemployment benefits for yet another year. we are barely bumping across the bottom and the great thing of our stock market we have companies representing america around the world so caterpillar was up big. we do not wan
CSPAN
Dec 31, 2012 12:00pm EST
up is only one part of this so-called fiscal cliff. what we also have facing us starting tomorrow or automatic spending cuts that are scheduled to go into effect. keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a scalpel. it may not always be the smartest cuts. that is a piece of business that still has to be taken care of. i want to make clear that any agreement we have to deal with these automatic spending cuts, those also have to be balanced. my principle has always been to do things in a balanced, responsible way and that means revenues as to be part of the equation in turning off the sequestered. as well as spending cuts. my principle has alwaysthe samee deficit agreement. we will have to do more to reduce our debt and deficit. i am willing to do more but it will have to be balanced. we will have to do it in a responsible way. i am willing to r
FOX News
Dec 28, 2012 6:00am PST
: maria mow lean a thanks. gregg: the fiscal cliff is not the only threat facing the u.s. economy right now. shipments of all kinds could actually be stuck on cargo ships if a longshoreman strike goes ahead as planned. the stakes for the recovery coming up. patti ann: high noon in those fiscal cliff negotiations. >> nothing have move forward in regards to our budget crisis unless speaker boehner and mitch mcconnell will go forward with our plan. speaker boehner is willing to negotiate, we have not heard a word from mitch mcconnell, and nothing is hang. patti ann: chris vanhollen joins us next. pwhrafp [ woman ] ring. ring. progresso. i just finished a bowl of your new light chicken pot pie soup and it's so rich and creamy... is it really 100 calories? let me put you on webcan... ...lean roasted chicken... and a creamy broth mmm i can still see you. [ male announcer ] progresso. you gotta taste this soup. . patti ann: fox news alert, potentially good news for the nation's housing market. pending home sales, which measure homes that are in contract and about to be sold rose 1.7% in novemb
CNN
Dec 31, 2012 11:00am PST
get a plan to deal with taxes, to avoid the fiscal cliff, that's a win for the economy and the american people. >> john, it is joe johns in washington, d.c. we have heard so much about tax increases and how they're going to handle those and not so much about the spending cuts and my question to you is at the end of the day, are we going to end up essentially with some type of a plan that could add to the federal deficit instead of reduce it? >> you noticed that, huh? sequester hasn't really been the topic of much conversation. look, that is still unclear right now. obviously, again, the point of all of this, the reason that over 500 days ago we set the fiscal cliff with regard to the spending cuts and knew the bush tax cuts were expiring ten years ago on this date, that was an impetus to create bargain to deal with deficit and debt. what seems to be coming together now is largely, as you said, a planned focused on taxes. not just the tough tax rates, but the estate tax, the amt, something semi comprehensive. as the president said in his press conference a short while ag
FOX
Dec 28, 2012 7:00am PST
. there's the markets this morning. down about 83 points and everyone is blaming it on the fiscal cliff and watching washington and hoping they can find middle ground as we approach the ever impending dead line. well another sign that the housing market is improving the national association of realtors says pending home sales rose last month so it's highest level in two and a half years. pending sales rose nearly 2% in november and it's the third month in a row it has gone up. amazon says it had a very green christmas season. it announced it's 2012 holiday sales were the biggest ever. they had several record setting days including cyber monday when customers ordered 26 and a half million products. amazon isn't giving exact numbers but says sales of the kindle devices are it's top overall setters and says they set a record for digital downloads on christmas day and e reading is gaining popularity on all devices. nearly one quarter of all americans downloaded and read a book on an electronic reader this year up 7% from last year and the number of people reading traditional books dropped
FOX News
Dec 27, 2012 8:00am PST
cliff we know it will take some dollars out of the economy, whether it is higher taxes or entitlement cuts. it will create a little bit of a shock to the economy but there are bright spots we should look for in 2013. harris: there are three you said. what are they? >> housing, energy and huge amount, trillions of dollars sitting on the sidelines by corporate america, waiting to come into the economy once this picture clears up. harris: we're getting housing numbers coming this week already. we're starting to see prices rose a little bit this fall. that is a good sign. we're seeing housing starts have come up as well. so i understand that. energy. >> energy is a game-changer, it really is. we look what is going on around the world. the europeans, far east, they're paying over $17 a btu for natural gas. we get it for $3 in this country. dow chemical just proposed building the largest chemical plant it has in the world here in this country because of the competitive advantage of natural gas. imagine if we could liquify, ship it to europe, ship it to the far east. not only would we have a
FOX Business
Dec 30, 2012 11:00pm EST
. unwilling and unable erhaps, for what will ensue of the fiscal cliff. but the fact is that we are looking at a real prospect that the republicans will be held responsible and must plan be actually has the effect of shifting some of the responsibility to the president read what you think are the odds? >> i think he will be held responsible for the economy in 2013 and 2014. you cannot blame george w. bush anymore. they control the senate. it is their economy for sure. so i think that you're going to see a real problem in 2013 and 2014, but i do think it's obama's economy now. the republicans passed the tax cuts for one group, let's say all the way through, not the very top group, i don't know where that negotiation is going to come out, but if they do that, i think that they will be held blameless for the economy. lou: as we wrap up here, i would like to ask you a question this way. because i said last year that i felt strongly at the beginning of the campaign. the democrats were the republican -- the democrats or the republicans, which party led the discussion to the enduring that of the m
FOX News
Dec 29, 2012 1:00pm PST
. fiscal cliff crisis taking a toll on consumer confidence. putting things in context, here it is. a score of 90 on the conference board's index means the economy is healthy. last time we saw that number was 2007 before the start of the financial crisis. over the last two months we've seen steady declines. november's report showed a score of 71.5 and 65.1 in december. that is lowest number we've seen since august. joining us now for more on this is jonathan hunt, portfolio manager for capitalist pig hedge fund. contributor to for fox news channel, good to see you. >> happy new year. >> consumers have no faith in congress, guys get your act together. if there is a deal tomorrow, how do you think is this is going to affect consumer confidence over the next six months? >> it might slightly help but already there is a tremendous damage done. it's no surprise that consumers are not confident. to be confident you have to have some slight semblance of certainty and we haven't had anything like that. consumers want to think long term and budget but trillions of dollars and hundreds of millions of
FOX News
Dec 27, 2012 10:00am PST
: as lawmakers struggled with the fiscal cliff, treasury secretary timothy geithner is facing an equally harrowing deadline is the u.s. economy approaches its borrowing limit of $16.4 trillion. he says that he is being forced to use extraordinary measures. just to try try to keep things afloat for another few months. do you ever feel like groundhog day? paul harrington is a managing partner of harrington financial llc. i do feel like bill murray in his movie "groundhog day", the movie. it seems to be happening over and over again, doesn't it? [laughter] reporter: this narrative is tiring and frustrating. we have been talking about this every year. we do have a $16.4 trillion debt ceiling. i want people to realize that there are vibrational effects associated with going over or trying to extend the debt ceiling. one example is the credit rating of the united states. we already saw a downgrade their with our respective credit rating in the united states. if we are going to go through the debt ceiling once again, and i suspect that we will revisit having another downgrade to her credit rati
FOX News
Dec 31, 2012 8:00am PST
at congress with distain and rightfully so. with the deadline on the fiscal cliff only hours away we've failed to reach a reasonable compromise to move the economy forward and ward off painful tax hikes on the middle class. >> reporter: so everybody is waiting to see if the senate can reach a deal on the fiscal cliff. it's not entirely clear when the house would act. i talked to a key leadership aide who he said if the senate passes a deal we could certainly signal that we will take it up perhaps tomorrow morning and that would keep everybody calm, but first things first, they need a deal, jon. jon: by my calculation they have less than 13 hours to accomplish that. mike emanuel, thank you. >> reporter: thank you, sir. jon: let's take a look at the dow with all this fiscal cliff nonsense going on. it's up, actually about 8 points right there as you can see. still down below 13,000, though, after heavy losses last week. very light trading also as you might imagine on this day before the market is closed for the new year's holiday. while congress cannot seem to agree on a fiscal cliff fix, it loo
FOX News
Dec 27, 2012 3:00am PST
. doesn't mean they're going to get anything done as far as the fiscal cliff is concerned and because the deadline is so tight, about the most we could hope for may be is some kind of temporary deal. if they don't come up with a pick, the economy may be in for a big jolt. >> we're going to see economic activity slow down. i think we're going to see, with the certainty of tax rates raising on all of us that people contract their economic activity. >> and look, here is why. when you take a look at the impact of these tax hikes, at low income levels, a few hundred dollars. but for people make more than $500,000 a year, an average tax hike of $120,000 unless there is some kind of a fix. and finally, here is one possible solution, i guess. starbucks is telling all of their employees here in the dc area to write on every single coffee they make, come together. that is not just a tall order, but maybe a venty. i think a venty. >> kelly: that's really a good idea. not a good one, doug. >> clayton: thanks. what was your beverage of choice this morning? is that your coffee cup? >> juliet: all r
FOX News
Dec 29, 2012 1:00am PST
like a republican. >> stop, get out of here. the fiscal cliff is defense cuts and high taxes welcome to the republican party. >> rational people say that's not a good thing to do. i would hope that robert and sober behavior before new year's eve would land like an alien rocketship in washington and get these people to the table. >> greg: alice, you are sane, i believe. what do you make of this? the point i'm trying to make is why are the democrats scared of the fiscal cliff when it defines basically their ultimate dream? the democrats are anxious. they are embracing the fiscal cliff. we got obamaened a democrats in the conservative thunder bird ready to put the pedal to the metal on the fiscal cliff. they can raise taxes. they can cut military spending and they can blame the g.o.p. when the g.o.p. is doing the smart thing here wanted pointing the finger at the real problem, which is out of control spending. fixing this problem is not going to be easy but it's not complicated. we can't rely on raising taxes. we have to focus on cutting spending. that's what republicans are doing. even
FOX News
Dec 31, 2012 10:00am PST
of tax hikes going up is only one part of this so-called fiscal cliff everybody has been talking about. what we also have facing us starting tomorrow are aught maddic spending cuts that are scheduled to go into effect. and keep in mind that some of these spending cuts that congress has said will automatically go into effect will have an impact on our defense department and head start. so there are some programs that are scheduled to be cut that we are using an ax instead of a scalpel. it may not always be the smartest cuts. so that's a piece of business that still has to be taken care of. i want to make clear that any agreement we have to deal with these automatic spending cuts set for next month. those have to be balanced. my principle has always been let's do things a balanced responsible way. that means revenues have to be part of the equation in turning overt sequester and automatic spending cuts as well as spending cuts. the same is true for any future deficit agreement. obviously we'll have to do more to reduce our debt and deficit, i'm willing to do more, but we have to do it in
FOX News
Dec 31, 2012 6:00am PST
to the potential falling off the fiscal cliff. gregg: 30 million americans will be affected by the alternative minimum tax and they will have to pay a much higher tax rate. >> a lot of people don't even know that they will be one of that 28 to 3,030,000,000 people getting hit. this all comes at the end of the year when you realize how much more money you you'll pay in taxes coming out of your paychecks this affects almost every american. gregg: social security the payroll tax that everybody has been talking about, that is suddenly going to jump from 4.2% to 6.2%, the average wage easterner pays about $700 more? if you make less than $50,000, right around $50,000 you're paying about $650 more. again this is affecting middle class america. a lot of people in the middle class say this isn't going to affect me, this is just about rich people. you're seeing more and more everything we talk about hitting the middle class the hardest. gregg: every potential deal we are hearing today none of it affects the payroll tax, that will go up automatically on everybody no matter what. >> that is almost guaran
CNN
Dec 28, 2012 11:00am PST
mobile app. >>> from the cnn money newsroom in new york, i'm ali velshi. this is your money. the fiscal cliff is a battle of ideological wills. some americans feel strongly that increasing taxes hurts the economy. quite possible that it will. but the central question is whether it will hurt all that much to raise income taxes a little bit on the highest earners in the country. well, to push the country to the edge of a recession over this is irresponsible. the increase will hardly affect the economy. but that's my opinion. and my opinion should count as much as anyone else's. the problem is that in washington one person's opinion carries disproportionate weight and that person is grover norquist. he's the head of americans for tax reform. they have got the pledge that mostly republican members of congress signed to say they won't increase taxes. now, understand this. the top marginal tax rate going from 35% to 39.6% is not a tax increase. it is a return to tax rates that would have taken place after the temporary bush tax cuts expired and got extended. so the way i see it, that cuts wit
CSPAN
Dec 26, 2012 7:00am EST
: in the new year, i think they come to some resolution of the fiscal cliff. we are looking forward to another year like we had. 2% growth are a little less. the prospects this quarter were impaired by the cliff, and we expect that to go forward into the next quarter. host: the president coming into town tonight, and the congress tomorrow. realistically, what do you think will happen? guest: i do not think a lot will happen and i think we will go over the cliff. i am an economist, not a politician. i do not believe that the republicans will give the president merely a tax increase on people over $250,000. there are not able to push that through the house with some spending cuts. that does not seem to make much sense. host: peter will be here for 40 minutes taking your calls and tweets about the u.s. economy. we continue to take a look at economic matters. our guest recently wrote about the debt limit. the headline in "the boston globe" -- do you agree with that sentiment? guest: i would hope it would not threaten the economy again. it is all bound up in this issue of curbing government spendi
FOX News
Dec 30, 2012 3:00pm PST
actively. the fiscal cliff is thought to be connected with real economic disaster if it goes on, raising unemployment past 9% and sending the economy into a tailspin. if they get things done by the middle of next week it won't have a major impact but they need to show the american public they can get this agreed upon. >> in good faith. >> or they'll rattle the markets. tomorrow's the day to keep your eye on the senate. they have to pass something. senator reid will feel a sense of responsibility to get something done. >> we'll bring you back this hour. i appreciate it. you gave us a nugget that some of this could be retro actively picks -- fixed. >> all this talk about what will happen in the nation goes over the cliff. we'll talk about how it could affect your paycheck in particular. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? ♪ festive. [ mal
FOX News
Dec 30, 2012 3:00am PST
starting to see very positive trends. >> clayton: let's talk about the fiscal cliff. 'cause a number of factors in play here, number one, capital gains taxes moving forward and we saw a lot of investments and a lot of investors buying up. are you from phoenix in that neck of the woods? >> no, i'm in washington. both d.c. and seattle. >> clayton: and some of those investments, even in the d.c. area, we saw some investments in the outlying areas, but phoenix of course, vegas. investors coming in and buying up a lot of those properties down there, but how will the fiscal cliff affect investment going forward and maybe helping this recovery? because we're going to see a big increase in the capital gains taxes? >> that's right, it's going to have a bigger impact than i think analysts are predicting, maybe because they're numbers crunchers and not in the market. and fueling the momentum in the real estate markets, snapping up the foreclosure properties the last few years and the concern is they're going to be a little bit more conservative in their purchasing moving forward. and here is a
Search Results 0 to 31 of about 32 (some duplicates have been removed)